Demand for rental accommodation hit record high for month of February

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Mon 27 Apr 2020

Demand for rental accommodation hit record high for month of February

Demand from new prospective renters hit the highest level on record for the month of February, new figures show.

The data, compiled by ARLA Propertymark prior to the coronavirus outbreak being declared a pandemic, reveals that 82 potential tenants registered per letting agency branch in February, up more than a quarter from the previous high of 65 in February last year.

With demand from renters growing, the number of tenants experiencing rent hikes in February increased by 34% year-on-year.

Meanwhile, the number of landlords selling buy-to-let properties in February rose for the first time in nine months.